Jabil Circuit to cut 3,000 jobs worldwide

Electronics parts maker Jabil Circuit says it is cutting 3,000 jobs mostly overseas, or nearly 4 per cent of its work force, because of the global economic turmoil.

Electronics parts maker Jabil Circuit says it is cutting 3,000 jobs mostly overseas, or nearly 4 per cent of its work force, because of the global economic turmoil.

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St Petersburg, Florida-based Jabil Circuit Inc said on Wednesday about 10 of its global plant sites will be affected, and about 10 per cent of the cuts will take place in the United States. It currently has 85,000 workers.

The company expects $55 million a year in cost savings as a result of the cuts, and will take a related pretax charge of about $65 million over fiscal 2009 and 2010.